August 5, 2019 / 10:36 PM / 11 days ago

6th Circuit overturns bank fraud convictions of mortgage broker, builder

A federal appeals court has overturned the conviction of two Tennessee men for an alleged $5 million bank fraud against two mortgage companies, ruling that the government did not prove that any bank was defrauded by the men’s scheme.

The mortgage companies allegedly targeted in the scheme were not banks, and the government did not prove that the defendants, home builder Bryan Puckett and mortgage broker Amir Banyan, intended to take funds from the mortgage companies’ parents, which were banks, the panel said in a split 2-1 decision on Monday.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2KfB9Xj

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